he following data refer to Twisto Pretzel Company for the year 20x1. Work-in-process inventory, 12/31/x0 $ 8,000 Selling and administrative salaries 13,700 Insurance on factory and equipment 3,600 Work-in-process inventory, 12/31/x1 8,200 Finished-goods inventory, 12/31/x0 14,000 Cash balance, 12/31/x1 7,000 Indirect material used 4,600 Depreciation on factory equipment 2,100 Raw-material inventory, 12/31/x0 10,100 Property taxes on factory 2,400 Finished-goods inventory, 12/31/x1 15,400 Purchases of raw material in 20x1 39,000 Utilities for factory 6,000 Utilities for sales and administrative offices 2,300 Other selling and administrative expenses 3,800 Indirect-labor cost incurred 29,000 Depreciation on factory building 3,600 Depreciation on cars used by sales personnel 1,200 Direct-labor cost incurred 79,000 Raw-material inventory, 12/31/x1 11,000 Accounts receivable, 12/31/x1 4,200 Rental for warehouse space to store raw material 3,000 Rental of space for company president’s office 1,600 Applied manufacturing overhead 58,000 Sales revenue 209,800 Income tax expense 5,100
he following data refer to Twisto Pretzel Company for the year 20x1. Work-in-process inventory, 12/31/x0 $ 8,000 Selling and administrative salaries 13,700 Insurance on factory and equipment 3,600 Work-in-process inventory, 12/31/x1 8,200 Finished-goods inventory, 12/31/x0 14,000 Cash balance, 12/31/x1 7,000 Indirect material used 4,600 Depreciation on factory equipment 2,100 Raw-material inventory, 12/31/x0 10,100 Property taxes on factory 2,400 Finished-goods inventory, 12/31/x1 15,400 Purchases of raw material in 20x1 39,000 Utilities for factory 6,000 Utilities for sales and administrative offices 2,300 Other selling and administrative expenses 3,800 Indirect-labor cost incurred 29,000 Depreciation on factory building 3,600 Depreciation on cars used by sales personnel 1,200 Direct-labor cost incurred 79,000 Raw-material inventory, 12/31/x1 11,000 Accounts receivable, 12/31/x1 4,200 Rental for warehouse space to store raw material 3,000 Rental of space for company president’s office 1,600 Applied manufacturing overhead 58,000 Sales revenue 209,800 Income tax expense 5,100
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter2: Basic Managerial Accounting Concepts
Section: Chapter Questions
Problem 58P: Cost of Goods Manufactured, Income Statement W. W. Phillips Company produced 4,000 leather recliners...
Related questions
Topic Video
Question
Required information
[The following information applies to the questions displayed below.]
The following data refer to Twisto Pretzel Company for the year 20x1.
Work-in-process inventory, 12/31/x0 | $ | 8,000 | |
Selling and administrative salaries | 13,700 | ||
Insurance on factory and equipment | 3,600 | ||
Work-in-process inventory, 12/31/x1 | 8,200 | ||
Finished-goods inventory, 12/31/x0 | 14,000 | ||
Cash balance, 12/31/x1 | 7,000 | ||
Indirect material used | 4,600 | ||
2,100 | |||
Raw-material inventory, 12/31/x0 | 10,100 | ||
Property taxes on factory | 2,400 | ||
Finished-goods inventory, 12/31/x1 | 15,400 | ||
Purchases of raw material in 20x1 | 39,000 | ||
Utilities for factory | 6,000 | ||
Utilities for sales and administrative offices | 2,300 | ||
Other selling and administrative expenses | 3,800 | ||
Indirect-labor cost incurred | 29,000 | ||
Depreciation on factory building | 3,600 | ||
Depreciation on cars used by sales personnel | 1,200 | ||
Direct-labor cost incurred | 79,000 | ||
Raw-material inventory, 12/31/x1 | 11,000 | ||
Accounts receivable, 12/31/x1 | 4,200 | ||
Rental for warehouse space to store raw material | 3,000 | ||
Rental of space for company president’s office | 1,600 | ||
Applied manufacturing overhead | 58,000 | ||
Sales revenue | 209,800 | ||
Income tax expense | 5,100 | ||
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College